Rock Creek Group LP Sells 1,500 Shares of Asbury Automotive Group, Inc. $ABG

Rock Creek Group LP reduced its stake in Asbury Automotive Group by 37.5% in Q2, selling 1,500 shares. The firm now holds 2,500 shares valued at $596,000. Several hedge funds have adjusted their holdings in ABG. Analysts have mixed ratings, with a consensus price target of $254.00. Asbury's Q3 earnings beat estimates, reporting $7.17 EPS and $4.80 billion revenue. Insider Maureen Morrison sold 800 shares, decreasing her stake by 12.08%. Asbury Automotive operates as a retailer of automotive products and services in the U.S.

Rock Creek Group LP decreased its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 37.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,500 shares of the company's stock after selling 1,500 shares during the period. Rock Creek Group LP's holdings in Asbury Automotive Group were worth $596,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ABG. Caitong International Asset Management Co. Ltd bought a new position in shares of Asbury Automotive Group during the first quarter valued at approximately $49,000. eCIO Inc. bought a new position in Asbury Automotive Group in the first quarter worth approximately $56,000. CWM LLC lifted its holdings in Asbury Automotive Group by 7.5% during the first quarter. CWM LLC now owns 858 shares of the company's stock worth $189,000 after buying an additional 60 shares during the period. Koss Olinger Consulting LLC bought a new stake in Asbury Automotive Group during the 1st quarter valued at $201,000. Finally, MQS Management LLC bought a new stake in Asbury Automotive Group during the 2nd quarter valued at $250,000.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup reissued a "neutral" rating on shares of Asbury Automotive Group in a research report on Thursday, September 25th. JPMorgan Chase & Co. boosted their target price on shares of Asbury Automotive Group from $230.00 to $235.00 and gave the stock an "underweight" rating in a report on Wednesday, November 5th. Weiss Ratings reissued a "buy (b-)" rating on shares of Asbury Automotive Group in a research report on Wednesday. Bank of America lowered their price target on shares of Asbury Automotive Group from $335.00 to $300.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. Finally, Morgan Stanley boosted their price objective on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Asbury Automotive Group presently has an average rating of "Hold" and a consensus price target of $254.00.

View Our Latest Stock Report on Asbury Automotive Group

Asbury Automotive Group Price Performance

Shares of NYSE ABG opened at $223.48 on Friday. Asbury Automotive Group, Inc. has a fifty-two week low of $201.68 and a fifty-two week high of $312.56. The company has a market cap of $4.34 billion, a PE ratio of 7.83, a P/E/G ratio of 1.41 and a beta of 0.87. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.30 and a current ratio of 0.99. The business has a 50-day simple moving average of $237.17 and a two-hundred day simple moving average of $238.72.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $7.17 EPS for the quarter, beating the consensus estimate of $6.80 by $0.37. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.84 billion. Asbury Automotive Group had a net margin of 3.15% and a return on equity of 15.26%. Asbury Automotive Group's revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm posted $6.35 EPS. As a group, equities analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Maureen F. Morrison sold 800 shares of Asbury Automotive Group stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $255.61, for a total transaction of $204,488.00. Following the completion of the sale, the director directly owned 5,824 shares in the company, valued at approximately $1,488,672.64. The trade was a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.59% of the company's stock.

About Asbury Automotive Group

(Free Report)

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.

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